Riiid Inc., a Softbank Vision Fund-backed AI education technology company, announced the acquisition of Qualson Co Ltd., a leading English language learning and content provider based in South Korea.
Qualson is the owner and operator of popular B2C English learning platforms including its flagship Real Class, known widely for using high quality content sourced from international media companies to teach real-world, conversational English.
Founded in 2012, Qualson has operated a diverse portfolio of language learning brands and is known for collaborating with well-known public personalities in South Korea to deliver premium Hollywood movie and TV show-based learning content. Users of Qualson’s products including Real Class seek practical, daily English learning lessons and participate in live classes in addition to consuming video-on-demand (“VOD”) content.
The acquisition enables several routes for Riiid to augment Qualson’s products via injection of its globally-renowned “knowledge tracing” and “content recommendation” AI technologies. Equally, Qualson’s premium and loyal user base, ultra-high quality content, and English-as-a-second-language (“ESL”) market ‘know-how’ enables Riiid to accelerate development of its future ESL product. Qualson’s CEO, Sooyoung Park, will take on a larger role within the combined business.
The acquisition is expected to close in Q1 2024 and is subject to customary closing conditions.
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